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9th February 2024 Report: Maersk alert overstock could hits profits In a stark contrast to recent optimism, Danish shipping giant Maersk sent shockwaves through the industry on Thursday by warning that overcapacity in container shipping will significantly impact profits this year. This unexpected announcement, coupled with the suspension of its share buyback program, sent Maersk’s […]

6th February 2024 Red Sea crisis shift global oil buyer to buying Local Regionalization is taking place in the once-bustling global oil market, owing to a combination of factors including growing Red Sea instability, rising freight costs, and strategic concerns. This movement is changing trade patterns and modifying the landscape of oil business, driven by […]

31st January 2024 Report: Indian Refiners Return to Iraq from Russia After a whirlwind year of Russian domination, Indian refiners are turning back to Iraqi crude, pushing it back to the top of their import list in January 2024. This shift comes as US sanctions and Houthi rebel attacks in the Red Sea complicate Russian […]

19th January 2024 Report: Sri Lankan Trawler where rescued from Somali Pirates In a chilling echo of a bygone era, a Sri Lankan fishing trawler hijacked by suspected Somali pirates has been rescued, raising alarming concerns about a potential resurgence of piracy in the volatile waters off the Horn of Africa. The Sunday incident, involving […]

29th January 2024 Logistics Parks and Warehousing demand increases in India India’s logistics sector is witnessing a seismic shift, driven by a booming demand for modern logistics parks and warehousing facilities. According to a recent report by CBRE South Asia, warehousing lease transactions across eight major Indian cities reached a record 39 million square feet […]

27th January 2024 Report: Tanker in Flames after Houthi Missile Strikes Chaos erupted in the vital Gulf of Aden shipping lane when a British-owned oil tanker was struck by a Houthi missile, igniting a fire that cast a menacing shadow over international maritime trade. The targeted vessel, the Marshall Islands-flagged MT Marlin Luanda, owned by […]

25th January 2024 Report: Two U.S. flagged Maersk ships Attack by Houthi Missile As two U.S. flagged Maersk ships, the Maersk Detroit and Maersk Chesapeake, barely avoided a Houthi missile attack close to the Bab el-Mandeb Strait on Wednesday, tension in unreliable Red Sea increased. Although it is fortunate that neither of the ships nor […]

24th January 2024 Report: ITF declares rise in Seafarer Abandonment is “Unacceptable” The International Transport Workers’ Federation (ITF) has released alarming data regarding the exploitation of seafarers, showing an 11% rise in cases of crew abandonment in 2023 over 2022. This alarming number reflects the 132 ships that have been reported abandoned, leaving seafarers stranded […]

23 January 2024 Icon of the Seas a climate concern Royal Caribbean’s “Icon of the Seas,” an engineering marvel that is billed as the largest cruise ship ever built sets out on its first official voyage on January 27. The luxurious amenities and eye-catching entertainment offer vacations that will never be forgotten, but environmentalists cry […]

22 January 2024 Report: Drone Attack at Ust-Luga Russia A major fire at Ust-Luga, Russia a crucial Russian fuel export terminal has temporarily halted operations, raising concerns about potential disruptions to global energy markets and escalating tensions between Russia and Ukraine. The incident occurred on January 21st, 2024, at the Ust-Luga complex, a massive facility […]

19th January 2024 Report: US hits the Houthis and Indian Navy recovers the crew This week saw a new wave of tension emerge in the Red Sea, a crucial route for international trade, as the US launched airstrikes on Houthi missile launchers and the Indian Navy rescued crew members from a US-owned ship that was […]

17th January 2024 ONE first-ever methanol fueled vessels Ocean Network Express (ONE), the world’s sixth largest container line formed in 2017 by the merger of three Japanese shipping giants, combining Mitsui OSK Lines, Nippon Yusen Kaisha, and Kawasaki Kisen Kaisha, the top three shipping lines in Japan, into one liner unit. This bold move positions […]

16th January 2024 Report: Houthis Strike US-Owned dry bulk ship In a tense escalation, Houthi forces in Yemen launched an attack on the US-owned and operated dry bulk ship Gibraltar Eagle on Monday, striking it with an anti-ship ballistic missile. While no injuries or significant damage were reported, the incident has sent shockwaves through the […]

15th January 2024 Agreement sign between APM Terminals and JNPA collaborate for Vadhavan Port In a significant move poised to bolster India’s maritime infrastructure, global port operator APM Terminals has joined hands with the Jawaharlal Nehru Port Authority (JNPA) to develop a container terminal at the upcoming mega-port project at Vadhavan, Maharashtra. This collaboration, announced […]

13 January 2024 Report: FMC hold hearing on Shipping in Red sea The Federal Maritime Commission (FMC) has recently declared an upcoming informal public hearing, signaling a deep dive into the impacts of current conditions in the Red Sea and Gulf of Aden. The focus of this hearing will be on the escalating tensions stemming […]